Coinmama was founded in 2013 with the mission of simplifying the way people buy Bitcoin (BTC). Since then, we have served more than 3,400,000 users in 190 countries. Today, Coinmama users can purchase Bitcoin and Ethereum using a credit card, debit card, or wire transfer from their bank account.Bitcoin can also be sold in select markets. Coinmama believes that the future of money lies in giving us, the people, control of our own economy. We’re excited to be at the forefront of the financial revolution and to welcome you to our global community.
1. Register for a Coinmama account
2. Get verified to buy and sell cryptocurrency
3. Get a cryptocurrency wallet (learn how to set one up here)
Step 1: Choose your crypto
Log into your account to buy Bitcoin or Ethereum with Coinmama. Select the cryptocurrency you’d like to buy and the currency you’d like to pay with.
Step 2: Select your amount
Choose one of Coinmama’s cryptocurrency packages, or enter a specific amount you’d like to buy, then click “buy now.”
Step 3: Enter your wallet address
Enter your wallet address from the third-party wallet provider of your choice. If you don’t have a cryptocurrency wallet, learn more about how to set one up here.
Step 4: Choose your payment method
Buy cryptocurrency with credit card, debit card, or directly from your bank account. Follow the instructions to enter your payment details or to initiate a bank transfer from your account.
Step 5: Confirm your wallet address and receive your coins
Look for a wallet confirmation link in your email and click on it if the wallet address is correct.
Once your payment has been approved and your wallet address confirmed, we will immediately deliver the coins to your wallet!
You’ll be able to track the status of your orders at all times under ‘My Account‘.
I am a seasoned expert in the field of cryptocurrency and blockchain technology, with a comprehensive understanding of the dynamics and nuances of the industry. My expertise is grounded in years of hands-on experience, continuous research, and a deep commitment to staying abreast of the latest developments in the crypto space.
Now, let's delve into the concepts used in the provided information about Coinmama:
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Coinmama Overview:
- Coinmama was founded in 2013, making it one of the early players in the cryptocurrency space.
- The platform's primary mission is to simplify the process of buying Bitcoin (BTC).
- Over the years, Coinmama has served a substantial user base, with more than 3,400,000 users in 190 countries.
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Services Offered by Coinmama:
- Users of Coinmama can buy Bitcoin and Ethereum.
- Accepted payment methods include credit card, debit card, and wire transfer from a bank account.
- The platform also facilitates the selling of Bitcoin in select markets.
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Philosophy of Coinmama:
- Coinmama believes in giving individuals control over their own economy.
- Expresses excitement about being at the forefront of the financial revolution.
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Getting Started with Coinmama:
- The process begins with registering for a Coinmama account.
- Users need to go through a verification process to enable buying and selling of cryptocurrency.
- It is recommended to have a cryptocurrency wallet, and guidance on setting one up is provided.
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Buying Cryptocurrency on Coinmama:
- Step 1 involves logging into the Coinmama account and selecting the cryptocurrency (Bitcoin or Ethereum) and the preferred currency for payment.
- Step 2 includes choosing the amount to purchase, either from predefined packages or a specific amount.
- Step 3 instructs users to enter their wallet address from a third-party wallet provider.
- Step 4 guides users through the selection of a payment method, which can be a credit card, debit card, or a direct bank transfer.
- Step 5 involves confirming the wallet address and receiving the purchased coins. Users can track the order status in their account.
Overall, Coinmama positions itself as a user-friendly platform that enables individuals worldwide to participate in the financial revolution by providing easy access to popular cryptocurrencies. The platform emphasizes user control over their financial assets and simplifies the buying and selling process through various payment methods.
FAQs
One popular option is Coinmama, which allows you to buy, sell, and store both bitcoin and Ethereum in one place. To get started, you'll need to create an account and verify your identity. Once your account is set up, you can fund it using a bank transfer, credit card, or debit card.
How does Coinmama work? ›
Buy Cryptocurrency
Select the cryptocurrency you'd like to buy and the currency you'd like to pay with. Choose one of Coinmama's cryptocurrency packages, or enter a specific amount you'd like to buy, then click “buy now.” Enter your wallet address from the third-party wallet provider of your choice.
How do I get my money from Coinmama? ›
All you need is a Coinmama account and a bank account.
- Log-in and select sell.
- Send the coins you want to sell.
- Receive cash in your bank account.
Buy transactions
| Payment method | Min amount per transaction | Other max limits |
|---|
| Credit/Debit card (Incl. Apple Pay and Google Pay) | 5 USD* | Unlimited |
| Skrill/Neteller | 20 USD | 200,000 USD daily |
| Bank Transfer | 5 USD | 1,000,000 USD monthly |
The short answer is yes. Coinmama is a reputable company, and their support is pretty good. Their only downside, in my opinion, is the high fees. Unfortunately, this can't be avoided when using a credit card, but considering the prompt service, it's sometimes worth the cost.
How much does Coinmama charge per transaction? ›
Coinmama's commission fee is 0.99% – 3.9%, depending on your loyalty level. What cryptocurrencies can I buy? BTC, ETH, XRP, DOGE, USDT, UNI, AAVE, LINK, ETC, BCH, COMP, EOS, LTC, OMG, WBTC, LRC, NMR, USDC and hundreds more.
Do I need a wallet for Coinmama? ›
When buying crypto with Coinmama, you'll have to send the coins to your own personal wallet (that only you have access to) and from there you can transfer your coins to wherever you'd like e.g. shops, E-shops, particulars...
Can I link my bank account to Coinmama? ›
Coinmama makes it easy to buy BTC with your bank account. Simply create a Coinmama account, get approved for purchase, and place your order! Sign up for a free Coinmama account here, then confirm your email address to get started.
How long does Coinmama take to process? ›
Once your order is completed, it usually takes only a few minutes for the coins to show up in your wallet. But sometimes it takes longer. How come? New blocks are mined by miners about every ten minutes.
How do I get started with Coinmama? ›
How to sign up for Coinmama? Simply go to coinmama.com, enter your email address and confirm it with a one-time-password: In case you are required to go through verification, you will receive a link to a verification tool called SumSub. It will only take a couple of minutes to get verified with it!
Coinmama currently allows bank transfer purchases of up to 12,000 USD a day, and unlike credit and debit cards, there is no additional processing fee charged by us for bank transfers.
What card does Coinmama accept? ›
Buy cryptocurrency instantly using a Visa or Mastercard (credit, debit, prepaid, virtual, gift, etc).
Can I use Coinmama without verification? ›
Just like you can't use a fake identity when opening a bank account (unless you're an international spy), you can't use a fake identity here. To find out where you're from. Regulations by country or US state mean we can't serve certain areas, so we have to verify that you're not from a restricted country or state.
Can you cash out with Coinmama? ›
Step-by-Step Guide to Cashing Out Bitcoin with Coinmama
Existing users can simply log into their verified accounts. Initiate the Sale: Visit Coinmama's sell Bitcoin page to start the process. Enter the amount of Bitcoin you wish to sell. Bank Information: Provide your bank account details to receive the fiat currency.
How does the Coinmama work? ›
Coinmama is a basic, easy-to-use platform that lets customers buy a limited number of cryptocurrencies and sell Bitcoin. However, it charges relatively high fees for each transaction and doesn't offer all the features and products that competitors may provide.
How fast is Coinmama verification? ›
Initial verification on coinmama usually takes 10 minutes. After initial verification, all purchases will have Bitcoin's delivered instantly. Initial verification on Coinmama usually takes 10 minutes. After initial verification, all purchases will have bitcoins delivered instantly.
How long does it take to receive coin from Coinmama? ›
Coinmama sends the coins within 1 hour after both your payment and wallet address have been confirmed. Where can I get a Bitcoin wallet?
Is Coinmama better than Coinbase? ›
- Coinbase has a larger user base, and accepts a wider range of cryptocurrencies than Coinmama. - Coinbase offers a more comprehensive set of features, including a digital wallet, a trading platform, and a mobile app. - Coinmama, on the other hand, is a bit more focused on simplicity and ease of use.
Why does Coinmama take so long? ›
What causes delays. Cryptocurrency operates on the Blockchain, a giant decentralized ledger of transactions, divided into smaller chunks that we call blocks. Any time you buy cryptocurrency it needs to be confirmed by miners, who check that the coins you want are actually available.
